PEDEVCO CORP. Form 8-K Summary
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by PEDEVCO CORP. on September 16, 2013. The report primarily serves to announce operational milestones regarding oil and gas production in Colorado and to notify investors of a scheduled conference call.
Key Financial Metrics
The filing text does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity figures. The report focuses exclusively on operational production rates.
Material Changes and Operational Updates
The Company announced the completion and initial production rates for two wells in the Niobrara formation:
- State 16-7-60 1H Well (Weld County, Colorado): Initial production rate of 540 barrels of oil equivalent per day (BOE/d) with a peak production rate of 1,105 BOE/d.
- Wickstrom 18-1H Well (Morgan County, Colorado): Initial production rate of 482 BOE/d.
Guidance, Outlook, and Management Commentary
Management announced an investor conference call scheduled for September 16, 2013, at 1:15 p.m. Pacific Time to discuss these results. The filing does not contain forward-looking guidance, risk factors, or contingencies beyond the standard disclaimer that the information is not deemed "filed" for Section 18 purposes of the Exchange Act.
Key Facts for Investor Verification
- Verify the sustained production rates of the State 16-7-60 1H and Wickstrom 18-1H wells against the initial and peak figures reported.
- Review the full text of the press release (Exhibit 99.1) for additional operational details not summarized in the 8-K.
- Confirm the Company's capital requirements to maintain these production levels, as no financial data is provided in this specific filing.